The shared ownership product is available up to 95 per cent LTV, is fixed for five years and has a rate of 3.99 per cent. 

Meanwhile, the existing standard residential five-year fix at 90 per cent LTV has been cut from 3.59 per cent to 3.39 per cent. 

Dan Atkinson, head of intermediaries at the Melton, said: “We temporarily withdrew our shared ownership offering last year to maintain our service levels.  

“The Melton has long supported first-time buyers with a range of shared ownership mortgages and innovative lending criteria to help them get on the housing ladder.

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“Together with our competitively priced high LTV standard residential mortgage, we have a great offering for first-time buyers.” 

 

The West Brom 

The West Brom has reduced rates on lower LTV products by up to 45 basis points and added £1,000 cashback to some deals. 

The rate on a fee-free two-year fixed mortgage at 60 per cent LTV has been reduced from 1.59 per cent to 1.54 per cent while a fee-free five-year fixed at 75 per cent LTV has been cut from 2.09 per cent to 1.99 per cent. 

Products with £1,000 cashback include a five-year fixed purchase deal at 75 per cent LTV with no fee and a rate of 2.14 per cent.

Another mortgage which offers £1,000 cashback is the five-year fixed at 60 per cent LTV, also with no fee. This has a rate of 1.79 per cent. 

Richard Scott, head of intermediaries at the West Bromwich Building Society, said: “We are pleased to be able to offer this latest range of competitive products.

“They include interest–only and a range of incentives and options, including a free valuation, cashback and early repayment charge free discount variable rates up to 90 per cent LTV, to help our intermediary partners find the best deals for their clients.”